6004 SAUDI
الخطوط السعودية للتموين
SELL
Close
113.40
Prev.Close
117.00
Change
-3.6000
Change%
-3.08%
BEARISH ENGULFING
Sold at
116.66
Open
117.80
High
117.80
Low
113.40
Close
113.40
Gain%
-2.79%
Signal History
Pattern & Confirmation Chart for the Last 6 Months
Our system’s recommendation today is to SELL. The BEARISH ENGULFING pattern finally received a confirmation because the prices crossed below the confirmation level which was at 117.00, and our valid average selling price stands now at 116.66. The previous BUY signal was issued on 22/11/2023, 8 days ago, when the stock price was 111.32. Since then 6004 has risen by +4.80%.
We may be at a market top or at the start of a correction. The market ran out of steam and the traders are now more in agreement about the bearishness. The evidence is strong enough to prompt the closing of long positions. Today’s candlestick has a black body and its close is below the confirmation level. The bearish pattern that was previously identified is finally confirmed and a <SELL signal is generated. You still have time to follow the signal and then you may start checking other securities for a bullish bet.
This pattern is characterized by a large black body engulfing a preceding smaller white body, which appears during an uptrend. The black body does not necessarily engulf the shadows of the white body but totally engulfs the body itself. This is an important top reversal signal. more...
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